Entain has undergone a substantial uptake in business and operations over the past year, having solidified its position in the US and other markets.
Commenting on the company’s rise on CNBC’s The Exchange, Contessa Brewer remarked that the FTSE100 company ‘has a lot to crow about,’ having secured its status as the second market leader in the US and partnering with prominent casino operator MGM to launch the BetMGM sports betting app.
In addition to the US and its home market of the UK, Entain is operational in 27 international jurisdictions and has eyed up a further 50 national sectors for future expansion.
Furthermore, the operator recently strengthened its position in the burgeoning esports betting space, acquiring Unikrn’s platform, products and team for a reported $50 million and naming Justin Dellario its new Head of Esports.
In a video appearance on the programme, Entain’s CEO, Jette Nygaard-Andersen – who took on the role earlier this year – outlined her vision for Entain’s future, and why she believes the company has a ‘first mover advantage’ as it moves to capture a quarter market share what she anticipates is a $160 billion total addressable sector.
“We actually believe that we can build a global, scalable platform that is fully compliant and takes care of all the different areas of player protection and responsible gaming, and also interacting with regulators in terms of how we can build this in the future.
“That is why we see a huge exciting opportunity for us, as that platform does not exist today. We believe we can have a first mover advantage here in building this fully integrated platform for the esports fans.”
However, Brewer noted that MGM CEO Bill Hornbuckle has said that although he ‘values the partnership with Entain,’ his firm’s M&A strategy ‘does not rely on just one company’.
MGM had previously offered an $11 billion bid to buy Entain, which was rejected by the Ladbrokes and Coral parent company as significantly undervaluing the firm.
To watch the full CNBC video, click here